Deposit of the Escrow Amount Sample Clauses

Deposit of the Escrow Amount. Within three Business Days from the Effective Date, the Lender shall deposit with the Escrow Agent and the Escrow Agent shall accept and hold in the Escrow Account the Escrow Amount, to be released in accordance with Article 6 herein below.
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Deposit of the Escrow Amount. Simultaneously with the execution and delivery of this Agreement, the Buyer shall deposit in an account with the Escrow Agent the Escrow Amount in immediately available funds (the "Escrowed Proceeds"), the receipt of which will be acknowledged by the Escrow Agent substantially in the form of Annex B attached hereto, and which Escrowed Proceeds shall be held by the Escrow Agent upon the terms and conditions hereinafter set forth.
Deposit of the Escrow Amount. (a) At the Closing, in accordance with the terms of Sections 2.7 and 2.8 of the Acquisition Agreement, Purchaser will deposit the Escrow Amount in immediately available funds with the Escrow Agent to be held and disposed of as provided in this Escrow Agreement. The funds and property held by the Escrow Agent under this Escrow Agreement, regardless of the account in which contained, including any interest, dividends or gains earned thereon and any other earnings in respect thereof, are hereinafter called the “Escrow Fund.” The Escrow Fund will be held in trust and will be used solely for the purposes and subject to the conditions set forth in this Escrow Agreement. The Escrow Agent will hold the Escrow Fund in two separate accounts, the first (the “Adjustment Escrow Account”) to hold $8,000,000 (the “Adjustment Escrow Amount”) of the amount deposited, together with any investment earnings thereon, representing a source of payment of Seller’s obligations under Section 2.9 of the Acquisition Agreement, in each case, to the extent provided herein, and the second (the “Indemnification Escrow Account” and with Adjustment Escrow Account, the “Escrow Accounts”) to hold $33,000,000 (the “Indemnification Escrow Amount”) of the amount deposited, representing a source of payment of Seller’s obligations under Sections 9.1 and 9.3 of the Acquisition Agreement, in each case to the extent provided herein, and, to the extent funds in Adjustment Escrow Account are insufficient for that purpose, Seller’s obligations under Section 2.9 of the Acquisition Agreement, to the extent provided herein. (b) Except as otherwise provided in Sections 2(c) and 7(a), (i) Seller will have the ability to pledge, convey, hypothecate or grant a security interest in its rights hereunder (it being understood that Seller may assign Seller’s contractual rights under this Agreement to a Person to whom or which it assigns its rights under the Acquisition Agreement). Until all funds are disbursed pursuant to Section 3, the Escrow Agent will be in sole possession of the Escrow Fund and will not act or be deemed to act as custodian for any person for purposes of perfecting a security interest therein. Accordingly, except as provided in Sections 2(c) and 7(a), no person will have any right to have or to hold any of the Escrow Fund (except for Seller’s contractual rights under this Agreement) as collateral for any obligation and will not be able to obtain a security interest in any assets (tangible or in...
Deposit of the Escrow Amount. Upon execution of this Agreement, Purchaser shall deposit, by wire transfer of federal funds, Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) representing the purchase price for the Real Property ("Purchase Price"), into Escrow Agent's trust account (the "Escrow Account") as follows:
Deposit of the Escrow Amount. At the Closing, in accordance with the terms of Section 2.3 of the Stock Purchase Agreement, Buyer will deposit the Escrow Amount in immediately available funds with the Escrow Agent to be held and disposed of as provided in this Escrow Agreement. The funds and property held by the Escrow Agent hereunder, including any interest, dividends or gains earned thereon and any other earnings in respect thereof, are hereinafter called the “Escrow Fund.” The Escrow Fund will be held in trust and will be used solely for the purposes and subject to the conditions set forth herein. The Escrow Agent will hold the Escrow Fund in two separate accounts, the first to hold $2,500,000 of the amount deposited, together with any investment earnings thereon, representing a source of payment of Sellers’ obligations under Section 2.5 of the Stock Purchase Agreement (“Adjustment Escrow Account”), and the second to hold the remaining balance of the Escrow Fund, representing a source of payment of Sellers’ obligations under Section 11.2 of the Stock Purchase Agreement and, to the extent funds in the Adjustment Escrow Account are insufficient for its purpose, Sellers’ obligations under Section 2.5 of the Stock Purchase Agreement (“Indemnification Escrow Account” and, together with the Adjustment Escrow Account, the “Escrow Accounts”).
Deposit of the Escrow Amount. The Purchaser will deposit, or cause to be deposited, with Acquiom Clearinghouse LLC (the “Escrow Agent”) an amount in cash equal to $10,000,000 (the “Escrow Amount”), by wire transfer of immediately available funds to an account designated in writing by the Escrow Agent at least two Business Days prior to the Closing Date, which amount shall be held in trust in a separate account (the “Escrow Account”), pursuant to the terms of the Escrow Agreement.
Deposit of the Escrow Amount. In accordance with Section l(b) hereof, within a reasonable time from the date hereof, Xxxxxxxx shall instruct his broker to deliver the Proceeds to a segregated interest-bearing account of the Company (the "ESCROW ACCOUNT") no later than (3) three business days after the sale of the Option Shares. The aggregate amount in the Escrow Account at any time, including accrued interest and earnings on such amount, is referred to herein as the "ESCROW AMOUNT." Upon reasonable request by the Optionee, the Escrow Agent shall deliver to the Optionee with no greater frequency than on a quarterly basis, a statement as of such date with respect to the Escrow Account.
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Deposit of the Escrow Amount. 2.1 On the closing day of the Private Placement (the “Closing Date”), which is expected to occur on or around January 17, 2022, the SPAC will pay to the Company, and the Company shall pay into the Escrow Account, free of charge and without any deductions for fees of the Company’s bank or any intermediary bank, cleared and immediately available by money transfer, an amount equal to the Proceeds (such amount, the “Initial Escrow Amount”). 2.2 At least two (2) Business Days prior to the Closing Date, the Company will inform the Escrow Agent of the Closing Date and of the Initial Escrow Amount, whereby “Business Day” shall mean a day (other than Saturday or Sunday) on which banks are open for general business in Berlin, Germany, Frankfurt, Germany, and Hamburg, Germany.
Deposit of the Escrow Amount. (a) Simultaneously with the execution and delivery of this Escrow Agreement, Buyer shall transfer the Indemnification Escrow Amount in the amount of $6,000,000 by wire transfer of immediately available funds, to an account designated by the Escrow Agent. (b) Simultaneously with the execution and delivery of this Escrow Agreement, Buyer shall transfer the Operations Escrow Amount in the amount of $4,225,000 by wire transfer of immediately available funds, to an account designated by the Escrow Agent. (c) The Escrow Agent shall hold the Indemnification Escrow Amount and the Operations Escrow Amount in separate and distinct accounts.
Deposit of the Escrow Amount. Promptly following the Effective Time, and, with respect to the Unused Merger Fees, promptly following the date that is six months following the Effective Time, Transamerica shall deliver the Escrow Funds to the Escrow Agent. Each of the Escrow Fund A, Escrow Fund B, Escrow Fund C and the Adjustment Escrow Fund shall be held by the Escrow Agent in a separate escrow account (collectively, the "Escrow Accounts"). Any Transamerica Common Shares paid into the Escrow Funds shall be held as Transamerica Common Shares in the Escrow Funds and shall not be sold, transferred, assigned, pledged, encumbered or otherwise disposed of by the Escrow Agent, except in accordance with the terms of this Escrow Agreement and except as authorized by Section 2.3(e)(ii) of the Merger Agreement and Section 9 hereof. Any cash contributed to an Escrow Fund shall at all times be invested in such overnight or short-term "investment grade" investments (with maturities of no longer than 30 days) as Transamerica
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